SmartMetric Biometric Card Increases Security
New technology could make ATM and credit cards safer…
According to the New York based Daily News, Citibank was forced to limit the amount of cash their customers can take from New York ATM machines when it was discovered that security may have been seriously compromised. Although declining to specify the amount of the new withdrawal cap, a spokesperson for Citibank said, “Though we can’t provide details of ongoing security investigations, we are working closely with law enforcement on this matter.” This is just one example of how thieves are becoming more adebt at circumventing the lastest technology - while the financial community has been unable to keep pace. And consumers are paying for the loss through higher rates and fees. That is until now…
SmartMetric, Inc. has developed an ATM card that could solve the security problems cause by, what is in effect, decades old ATM and credit card technology. The new card doesn’t use a password that can be hacked or stolen, but instead uses a unique fingerprint of the owner to activate the card. By placing a finger on the card, within less than a second the card scans the fingerprint to determine the owners authenticity. If it’s not the owner’s print, the card will not work and cannot be used for withdrawal or to make purchases.
Because the SmartMetric Biometric Card has an inbuilt battery and power management system, the card works before it is inserted into an ATM or credit card reader. SmartMetric is in discussions with a number of Financial Institutions and plans on initiating field trials of its Biometric Card with Bank Customers in the First Quarter of 2008.
For more information, visit the SmartMetric Website >>
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